Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

No, and maybe the folks in New York want to talk a bit more about this. The transaction with the Swiss National Bank was a very special transaction that occurred outside the typical constraints of the swap lines that we’d be agreeing to with these folks. In the swap lines with these folks, they would have to tell us up front how they’re going to allocate the resources. We would envision that it would be done in something similar to an auction, in a very transparent, on-market sort of way. But it would not be that kind of a transaction, which was a special case in order to help a particular financial institution.

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